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Summary of Solvency Report Summary of Solvency Report China Pacific Insurance (Group) Co., Ltd. 2020 Interim Contents I. BASIC INFORMATION .........................................................................................1 II. GROUP OWNERSHIP STRUCTURE AND CHANGES TO MEMBER COMPANIES ........1 III. KEY INDICATORS ..............................................................................................1 IV. ACTUAL CAPITAL ..............................................................................................1 V. REQUIRED CAPITAL ...........................................................................................2 VI. MATERIAL EVENTS ...........................................................................................2 VII. GROUP SPECIFIC RISKS……………………………………………………………………………………..2 I. Basic information (1) Registered address: 1 Zhongshan Road (South), Huangpu, Shanghai, PRC. (2) Legal representative： KONG Qingwei (3) Business scope Invest in controlling stakes of insurance companies; supervise and manage the domestic and international reinsurance business of the insurers under its control; supervise and manage the investments by the insurers under its control; participate in international insurance activities as approved. (4) Contacts for solvency information disclosure： Contact person：HUANG Danyan Office number: +86-21-33968093 Email address：[email protected] II. Group ownership structure and changes to member companies Please refer to our 2020 Interim Report for detailed information. III. Key indicators As at the end of As at the beginning of Items the reporting period the reporting period Core solvency margin ratio 284% 288% Core solvency margin (10K RMB) 39,994,337 37,509,764 Comprehensive solvency margin ratio 289% 295% Comprehensive solvency margin (10K RMB) 32,435,999 30,635,692 IV. Actual capital As at the end of As at the beginning of Items the reporting period the reporting period Actual capital (10K) 49,552,676 46,383,835 Tier 1 core capital (10K RMB) 48,552,676 45,383,835 Tier 2 core capital (10K RMB) - - Tier 1 supplement capital (10K RMB) 1,000,000 1,000,000 Tier 2 supplement capital (10K RMB) - - 1 V. Required capital As at the end of As at the beginning of Items the reporting period the reporting period Required capital (10K RMB) 17,116,677 15,748,143 Required capital for quantitative risks (10K RMB) 17,116,677 15,748,143 1)Required capital for parent company - - 2)Required capital for insurance member company 17,116,677 15,748,143 3)Required capital for banking member company - - 4)Required capital for securities member company - - 5)Required capital for trust member company - - 6)Required capital for quantifiable Group specific risks - - 7)Increase in required capital for risk aggregation effect - - 8)Decrease in required capital for risk diversification effect - - Required capital for control risk (10K RMB) - - Supplement capital (10K RMB) - - Note: Detailed regulations are yet to be promulgated by the CBIRC regarding the required capital for quantifiable Group specific risks, increase in required capital for risk aggregation effect, decrease in required capital for risk diversification effect, required capital for control risk, and supplement capital. VI. Material events During the reporting period, there was no material investment losses, no major guarantees for external parties, no financial crisis incurred by the Group’s subsidiaries or associates, or their takeovers by regulators. VII. Group specific risks (1) Risk contagion As per regulatory requirements, the Company has set up risk quarantine mechanisms for its business operation, personnel management, fund management, information systems and internal transactions, etc., to effectively prevent the spread of relevant risks within the Group and to minimize the risk of contagion. (2) Risk due to opaque organizational structure As a listed insurance holding group, the Company boasts a clear ownership structure and sound corporate governance. The focus on insurance as its core business supplemented by other related business effectively prevents the risk of losses incurred by the Company as a result of opaque organizational structure. (3) Concentration risk As per regulatory requirements, the Company and its member insurers identify, evaluate, supervise and report on the concentration risk of various types on a regular basis, including the concentration risk of investment and reinsurance counter-parties, that of insurance and non-insurance business and that of investment assets, which effectively prevented the aggregation of a single risk or risk portfolios at the Group 2 level, or a material threat to the Group’s solvency and liquidity. (4) Non-insurance risk The Company takes non-insurance risk management very seriously and stays focused on the core business of insurance. In strict compliance with regulatory rules, it prudently manages investment in non-insurance areas, continuously tracks and prevents the adverse effect on the solvency of both the Group and its member insurers by the business operation of its non-insurance member companies, in a bid to safeguard policyholder’s interests. 3 Summary of Quarterly Solvency Report China Pacific Property Insurance Co., Ltd. 2nd Quarter of 2020 Contents I. BASIC INFORMATION............................................................................................... 1 II. MAIN INDICATORS .................................................................................................. 2 III. ACTUAL CAPITAL .................................................................................................... 2 IV. REQUIRED CAPITAL ................................................................................................ 3 V. INTEGRATED RISK RATING ...................................................................................... 3 VI. RISK MANAGEMENT STATUS ................................................................................ 3 VII. LIQUIDITY RISK ..................................................................................................... 4 VIII. REGULATORY MEASURES TAKEN AGAINST THE COMPANY .............................. 5 I. Basic information (I) Registered address South Tower, Bank of Communications Financial Building, 190 Middle Yincheng Road, China (Shanghai) Pilot Free Trade Zone, Shanghai, the PRC (II) Legal representative GU Yue (III) Business scope and territories 1．Business scope Property indemnity insurance; liability insurance; credit and guarantee insurance; short-term health and personal accident insurance; reinsurance of the above said insurance; insurance funds investment as approved by relevant laws and regulations; other business as approved by the CIRC. 2. Business territories The People’s Republic of China (excluding Hong Kong, Macao and Taiwan) (IV) Ownership structure and shareholders 1．Ownership structure Shares or contributed amounts Equity categories Percentage（%） (10K shares) Domestic shares held by legal entities 1,947,000 100 Domestic shares held by natural persons - - Foreign shares - - Others - - Total 1,947,000 100 2．Top 10 shareholders Shares held as at the end of the Names of shareholders Percentage of shareholding (%) reporting period China Pacific Insurance (Group) Co., Ltd. 19,178,214,743 98.50 Shenergy Group Co., Ltd. 90,874,742 0.47 Shanghai Haiyan Investment Management 90,620,982 0.46 Company Limited Yunnan Hehe (Group) Co.,Ltd. 59,586,361 0.31 Shanghai State-owned Assets Operation 50,703,172 0.26 Co., Ltd. Total 19,470,000,000 100 1 (V) Controlling shareholder or de facto controller China Pacific Insurance (Group) Co., Ltd. is the majority shareholder of the Company, holding 98.5% of its stake. (VI) Subsidiaries, joint or associate ventures Percentage of the Name of companies Number of shares (10K) shareholding (%) Shanghai Binjiang-Xiangrui Investment and 1,071 35.70 Construction Co., Ltd. Anxin Agricultural Insurance Co., Ltd. 36,490 52.13 Shanghai Juche Information Technology Co., Ltd. 148 25.20 Zhongdao Automobile Assistance Co., Ltd 1,280 20.32 CPIC Euler Hermes Credit Insurance Sales Co., Ltd 2,550 51.00 Shanghai Xingongying Information Technology Co. Ltd. 20 6.27 Shanghai Heji Business Management Partnerships ( LP) 20,000 99.00 (VII) Contacts for solvency information disclosure 1．Contact person：CHEN Mo 2．Tel. number：+86-21-33966153 II. Main indicators As at the end of this As at the end of last Item quarter/during this quarter/during last quarter quarter Core solvency margin ratio 221% 233% Core solvency margin (10K RMB) 2,238,783 2,320,891 Comprehensive solvency margin ratio 275% 290% Comprehensive solvency margin (10K RMB) 3,238,783 3,320,891 Latest IRR result - B Premium income (10K RMB) 3,779,039 3,888,118 Net profit (10K RMB) 154,213 163,353 Net assets (10K RMB) 4,155,737 4,155,312 III. Actual capital Item As at the end of this quarter As at the end of last quarter Admitted assets (10K RMB) 19,075,019 18,299,199 Admitted liabilities (10K RMB) 13,987,840 13,227,871 Actual capital (10K RMB) 5,087,179 5,071,328 Tier 1 core capital (10K RMB) 4,087,179 4,071,328 Tier 2 core capital (10K RMB) - - Tier 1 supplement capital (10K RMB) 1,000,000 1,000,000 Tier 2 supplement capital (10K RMB) - - 2 IV. Required capital As at the end of this As at the end of last Item quarter quarter Required capital (10K RMB) 1,848,396 1,750,437 Required capital for quantitative risks (10K RMB) 1,875,402 1,776,011 1）Required capital for insurance risk (10K RMB) 1,367,546 1,323,594 2）Required capital for market risk (10K RMB) 414,433 387,729 3）Required
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